Hyundai India: Tarun Garg to Become First Indian MD and CEO, Effective January 2026

Hyundai Motor India Limited has appointed Tarun Garg as Managing Director and Chief Executive Officer, effective January 1, 2026. The appointment was approved by shareholders through a postal ballot and remote e-voting, with 99.75 percent of votes cast in favour. The board had cleared the succession plan in October 2025 and shareholder approval was completed in December.

Garg is currently the Whole-time Director and Chief Operating Officer at Hyundai Motor India. With this move, he becomes the first Indian national to head the company’s India operations at the MD and CEO level since Hyundai entered the market nearly three decades ago.

Hyundai confirmed that the current Managing Director, Unsoo Kim, will transition to a strategic role at Hyundai Motor Company in South Korea after the handover. The company described the change as a planned transition rather than an abrupt management shift.

A change at the top does not bring immediate changes for customers, but it can influence decisions on products, pricing and timelines. Hyundai is positioning leadership continuity as a way to respond more closely to local market conditions, including competition in the SUV and utility vehicle segments and demand for multiple powertrain options within similar price ranges.

Hyundai Motor Company has outlined an investment plan of Rs 45,000 crore in India through FY30. The investment is aimed at product development, localisation, manufacturing capacity, and electrification-related initiatives.

One confirmed project is a locally designed, developed, and manufactured electric SUV planned for launch in 2027. This model is expected to play a role in Hyundai’s wider electric vehicle strategy for the Indian market.

Recently, at the Times Network India Economic Conclave 2025, Tarun Garg said Hyundai Motor India has become the company’s largest cumulative exporter of passenger vehicles. He noted that India continues to grow as a manufacturing and export base for Hyundai, supplying vehicles to multiple global markets.